InsideArbitrage Event Driven Monitor – March 25, 2025
Merger Arbitrage
- DNB: The acquisition of Dun & Bradstreet Holdings, Inc. (DNB) by Clearlake Capital Group, L.P., for a closing value of $7.7 billion. Under the terms of the agreement, Dun & Bradstreet shareholders will receive $9.15 in cash for each share of common stock they own. (Press Release)
- LNSR: The acquisition of LENSAR, Inc. (LNSR) by Alcon Inc. (ALC), for a closing value of $430 million. Under the terms of the agreement, Alcon will purchase all outstanding shares of LENSAR for $14 per share in cash, with an additional non-tradeable contingent value right offering up to $2.75 per share in cash, conditioned on achievement of 614,000 cumulative procedures with LENSAR’s products between January 1, 2026, and December 31, 2027. (Press Release)
- X: Reuters reported that Nippon Steel’s president Tadashi Imai said that the Japanese steelmaker and the U.S. government share a mutual understanding that its planned acquisition of U.S. Steel (X) will strengthen the American steel industry and manufacturing sector. Japan’s biggest steelmaker and U.S. Steel will continue negotiations with the U.S. government to reach an agreement on the terms of the equity purchase and future investment plans.
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